Eva Longoria Splits with Ernesto Arguello

08/23/2013 at 10:40 AM EDT

Eva Longoria Splits with Ernesto Arguello
Ernesto Arguello and Eva Longoria
Looks like Eva Longoria wasn't Ready for Love, after all.

The former Desperate Housewives star, 38, has split with Honduran hunk Ernesto Arguello, 34, after dating for nearly four months, PEOPLE has confirmed.

"Eva is hard at work producing in Los Angeles, and Ernesto's work is based out of Honduras and Panama, which made their schedules difficult to coordinate," a source close to the couple tells PEOPLE. "They remain very good friends and adore each other through it all."

The split, which was first reported by TMZ, comes just weeks after the two were rumored to be headed for the altar.

The sexy actress met the Miami entrepreneur and philanthropist last year when Arguello was – ironically – cast as a bachelor in Ready for Love, the reality show Longoria produced.

Longoria is set to reunite with another old flame, though: She is shooting a guest appearance on the new NBC sitcom Welcome to the Family, playing an ex-flame to her former Desperate Housewives hubby Ricardo Chavira, who stars on the show. It premieres Oct. 3.

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